KiwiSaver Fees Calculator

KiwiSaver management fees vary considerably across providers and fund types. Most actively managed funds charge between 0.8% and 1.5% per annum of your fund balance, while passive or index funds can be as low as 0.20%–0.35%. Simplicity and InvestNow are among the lowest-fee providers in New Zealand, charging around 0.20%–0.31% for growth funds. In contrast, some bank-affiliated default funds charge closer to 0.85%–1.10%. On top of the management fee, many providers charge a fixed member (administration) fee of around $3–$5 per week regardless of balance. For a $50,000 balance, the difference between a 0.3% and 1.0% annual fee is about $350 per year — money that compounds over decades. Always compare the total annual fund charge (TAFC) on each fund's product disclosure statement before choosing. Source: Sorted — KiwiSaver Fund Finder (sorted.org.nz).

Fees have a compounding negative effect on your KiwiSaver balance — each dollar paid in fees is a dollar that no longer earns investment returns. Over 30 years, a 1% annual fee on a $50,000 balance costs roughly $70,000 in lost returns (assuming 7% gross growth). Conversely, switching to a 0.3% fee fund could save approximately $50,000 over the same period. The impact is greatest for younger members with long investment horizons. New Zealand's Financial Markets Authority (FMA) has highlighted fee drag as a key issue, noting that even a 0.5% fee difference can reduce a final balance by 10–15% over a working lifetime. Before switching providers, check whether your current fund has competitive performance after fees — a high-performing fund charging 1% may still outperform a low-fee fund with poor returns. Source: FMA — KiwiSaver Annual Report (fma.govt.nz).

KiwiSaver providers typically charge two types of fees. The management fee (also called the annual fund charge) is a percentage of your total balance — for example, 0.5% per year on a $30,000 balance equals $150 annually. This fee scales with your balance and is automatically deducted from your fund. The member fee (or administration fee) is a flat dollar amount charged regardless of your balance — commonly $3 to $5 per week, or $156 to $260 per year. For members with small balances, the member fee can represent a disproportionately large cost: $156/year on a $5,000 balance is 3.12% — far above the advertised management fee rate. Some providers such as Simplicity have removed the flat member fee, making them particularly competitive for younger members or those just starting out. Always factor both fees when comparing providers. Source: Commission for Financial Capability — KiwiSaver (cffc.org.nz).

As of 2025, the lowest-fee KiwiSaver providers in New Zealand for growth funds include Simplicity (around 0.31% total annual fund charge with no member fee), InvestNow Foundation Series (approximately 0.20%–0.34%), and SuperLife (from around 0.38%). Passive index-tracking funds consistently undercut actively managed rivals on fees. By comparison, ANZ, ASB, BNZ, and Westpac growth funds typically charge 0.85%–1.10% plus member fees. The Financial Markets Authority publishes an annual KiwiSaver report with fee comparisons across all providers. It is worth noting that the cheapest fund is not always the best — a slightly higher-fee fund with stronger long-term returns after fees could grow your balance more. Use the Sorted KiwiSaver fund finder (sorted.org.nz) to compare total annual fund charges, five-year returns, and risk ratings side by side. Source: FMA KiwiSaver Annual Report 2024; Sorted KiwiSaver Fund Finder.